Air traffic update and forecast for Latin America - ACI
Air traffic update and forecast for Latin America - ACI
Air traffic update and forecast for Latin America - ACI
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Recent growth at some <strong>Latin</strong> markets – effect of economy<br />
• Although there are other important factors that<br />
affect air <strong>traffic</strong> growth in developing markets, in<br />
general it is closely linked both to economic<br />
growth <strong>and</strong> to evolution of yields (fares).<br />
10<br />
8<br />
GDP annual growth <strong>for</strong> main countries, % YoY<br />
Argentina Brasil Chile<br />
Colombia Perú Mexico<br />
6<br />
4<br />
Average air market growth 2006-2008<br />
2<br />
16%<br />
14%<br />
12%<br />
10%<br />
8%<br />
6%<br />
4%<br />
2%<br />
0%<br />
Domestic International<br />
14,5%<br />
13,9%<br />
12,9% 12,7%<br />
11,6%<br />
10,6%<br />
10,5%<br />
8,2%<br />
8,8%<br />
7,1%<br />
4,4%<br />
3,0%<br />
Argentina Brasil Chile Colombia Perú México<br />
0<br />
2003 2004 2005 2006 2007 2008<br />
• Economic growth in <strong>Latin</strong> <strong>America</strong> during<br />
last years has been very high, especially in<br />
Argentina, Perú, Colombia…. This effect,<br />
together with the surge of low-cost<br />
operations in some countries (a few years<br />
ago in Brazil, more recently in Mexico <strong>and</strong><br />
Chile, now in Colombia) is behind the big<br />
recent growth.<br />
Sources: DGACs, ICAO, World Bank, ALG elaboration<br />
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